Inflation Remains Within Target November 2020

• The Statistical Institute of Jamaica (STATIN) stated that the inflation rate for November 2020 was 0.6% primarily due to an increase of 1.7% in the heavily weighted ‘Food and Non-Alcoholic Beverages’ division.
• There was a 1.8% rise in the index for the ‘Food’ group, mainly influenced by higher prices for agricultural products such as carrot, cabbage, tomato and sweet pepper as a result of reduced supplies caused by adverse weather conditions.
• For the review period, the calendar year-to-date inflation rate was 5.0%, and the fiscal year-to-date was 3.7% as at November 2020. The point- to-point rate was 4.3% which was at the lower bound of theBOJ’s target range.

(Source: STATIN)